Shares of ARC Resources Ltd (TSE:ARX) fell 4.8% during trading on Tuesday . The company traded as low as C$12.75 and last traded at C$12.78. 1,163,752 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,481,499 shares. The stock had previously closed at C$13.42.
A number of brokerages have recently commented on ARX. GMP Securities cut their price objective on shares of ARC Resources from C$20.50 to C$18.50 in a research report on Friday, February 9th. TD Securities cut their price objective on shares of ARC Resources from C$19.00 to C$18.50 in a research report on Friday, February 9th. Raymond James Financial cut their price objective on shares of ARC Resources from C$22.00 to C$21.00 in a research report on Monday, February 5th. Barclays lowered their target price on shares of ARC Resources from C$19.00 to C$16.00 in a report on Wednesday, January 17th. Finally, National Bank Financial lowered their target price on shares of ARC Resources from C$17.00 to C$14.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$20.15.
The company has a market capitalization of $4,550.00, a price-to-earnings ratio of 11.70 and a beta of 0.58.
In related news, insider Bevin Mark Wirzba acquired 3,555 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were purchased at an average cost of C$14.10 per share, for a total transaction of C$50,125.50. Also, Director Harold N. Kvisle acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was bought at an average price of C$12.51 per share, for a total transaction of C$75,060.00. Over the last 90 days, insiders have purchased 28,855 shares of company stock worth $384,054.
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ARC Resources Company Profile
ARC Resources Ltd is a crude oil and natural gas company. It is engaged in the exploration, development and production of crude oil and natural gas in Canada with an emphasis on the development of properties with hydrocarbons in place, commonly referred to as resource plays. Its properties, North Pembina Cardium Unit No.
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